The Federal Reserve launched its FedNow service provider showcase Tuesday, a tool highlighting firms that can help financial institutions implement real-time payments using FedNow. The showcase acts as a catalogue that helps credit unions “shop” for potential solutions and on-ramps if they are interested in being a FedNow participant. The showcase portal also includes a readiness roadmap for institutions that are exploring a real-time payments strategy that leverages FedNow.
NAFCU has previously worked with the Federal Reserve to develop FedNow as a secure and cost-effective platform for real time payments. The association has also met with Federal Reserve leadership to advocate for the Fed to play an operational role in the faster payments landscape.
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